Mike: Be forewarned that this is looking to be a brutal day for job loss announcements as the headlines are full of bad news already: Magna, Harman, Century Aluminum, Estee Lauder, Alps Electric, Tenneco, Bombardier . The Jobless Claims number: Feb. 5 (Bloomberg) — The number of Americans filing first- time claims for jobless benefits unexpectedly jumped last week to a 26-year […]
Mike: This day’s big layoff news starts with Panasonic to cut 15,000 jobs, Fidelity National , Hudson’s Bay Company, Time Warner and Pier 1. This is my favorite bit of financial news this day: Obama caps executive pay tied to bailout money. I hope those titans of thievery have saved for a rainy day, since living on $500k won’t be easy for many […]